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What is BRC & FIRC
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Answer / h.r. sreepada bhagi
Foreign Inward Remittance Certificate(FIRC) is issued by the
bank to the Exporter(A/c holder) on receipt of export
proceeds in Foreign Currency.
On receipt of FIRC the Exporter is required to submit FIRC
with export document copies for endorsement. On receipt of
these the bank will issue Bank Realisation Certificate(BRC).
In India exports are governed by DGFT (for IEC Code), RBI,
FEMA, Customs, etc. The exporter is required to submit money
realisation certificates to the RBI through their bank.
Specific requirement of each of the government dept./agency,
may differ from time to time & needs to be complied with as
per the Exim Policy & bank guidelines as and when required.
| Is This Answer Correct ? | 124 Yes | 12 No |
Answer / rajpal singh negi
BRC= Bank Realisation Certificate which provided by bank to
customer as the certificate for payment received against
export made.
FIRC = Foreign Inward Remittance Certificate, which provided
by bank to customer for any foreign payment received in his
account.
| Is This Answer Correct ? | 103 Yes | 13 No |
Answer / anshuman mishra
FIRC is the certificate issued by the exporter's bank to the customer & certifies that the exporter is getting money from the legal source.
BRC is a certificate issued by the bank to the exporter when exporter submits a copy of FIRC & it certifies that the exporter has received the money against the export he made.
| Is This Answer Correct ? | 29 Yes | 2 No |
Answer / s.koloth
BRC
1.WHICH PROVIDED BY BANK TO CUSTOMER AS THE CERTIFICATE
OF PAYMENT RECEIVED AGAINST EXPORT ITEMS (DRAWBACK)
FIRC
2.WHICH IS ALSO PROVIDED BY THE BANK TO CUSTOMER FOR THE
PURPOSE OF PAYMENT RECEIVED IN HIS BANK ACCOUNT
| Is This Answer Correct ? | 21 Yes | 11 No |
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